In part 2, Patrick Bond broadens out his analysis of the BRICS countries engaging in what he terms “talk left, walk right.” He explains the economic theories of “accumulation by dispossession” and refers back to the aims of the Non-Aligned Movement of 1961 and the spirit of the 1955 Bandung Conference.
Frank Hammer, former President of United Auto Workers (UAW) local 909 in Detroit and retired GM worker, explains how “legacy” workers are standing up for new hires. This is critical to building working-class solidarity. He also reflects on the history of autoworker strikes in the U.S. and in Mexico, reminding us of the deadly incident at the Ford Cuautitlán plant, in which thugs dressed in Ford uniforms shot dead one of the workers and injured ten others.
Dr. Asoka Bandarage is an adjunct professor at the California Institute for Integral Studies and the author of a new book, Crisis in Sri Lanka and the World. Sri Lanka has had a minuscule carbon footprint, and yet the country is particularly vulnerable to the effects of climate change, coastal erosion, and flooding. She discusses the convergence of existential climate and debt crises in Sri Lanka, the latter resulting from IMF debt restructuring and the lack of a globally coordinated multilateral sovereign debt mechanism that places traditional and private lenders on an equal footing.
Widespread corruption in Lebanon is fostered by the country’s ruling class, whose business interests are enmeshed with those of international finance. Nadim Houry, executive director of the Arab Reform Initiative, explains how Lebanon’s culture of political impunity is tied to the reconstruction agreements put in place in 1990, at the end of the 15-year civil war. The ongoing political deadlock shields the authorities from scrutiny and allows for vulture capitalists such as the former governor of Lebanon’s Central Bank, Riad Salameh, to embezzle the country’s resources. At the same time, ordinary people are faced with crushing inflation.
Jomo K.S. warns U.S. policies are driving the world towards war and depression, leaving developing countries with a strong vested interest to reconvene a new non-aligned movement and strengthen democratic institutions of global governance. Lynn Fries interviews Jomo K.S. on GPEnewsdocs.
One of the few working-class movements scoring victories, democratizing ownership, and gaining momentum is the method of economic development called Community Wealth Building (CWB). Colin Bruce Anthes interviews Neil McInroy of the Democracy Collaborative on how CWB works, what it has accomplished so far, and its potential to lead a “new common sense” movement beyond neoliberal capitalism.
A discussion about independent media and ownership, censorship, self-censorship in media and a discussion about hate speech laws.
Paul Jay interviews Tom Ferguson about the debt ceiling crisis in the United States. Ferguson explains that the debate over the debt ceiling is largely theater, with both Democrats and Republicans working together to cut spending while maintaining the appearance of opposition. He criticizes the Democrats for not raising the debt ceiling earlier when they had the opportunity and suggests that their reluctance is due to their desire to secure more campaign funding for future elections. Ferguson argues that the spending cuts rolled back are not significant enough to impact inflation and proposes alternative measures, such as taxing the wealthy and reducing defense spending, to address the issue. He also discusses the influence of money in politics and the Democratic Party’s efforts to weaken the progressive wing.
The Reserve Bank of Australia has made an ad, and it’s surprisingly honest and informative. This video was originally published by The Juice Media on May 6, 2023.
In part two, Michael Hudson discusses his new book “The Collapse of Antiquity.” Hudson challenges the traditional beliefs about the fall of the Roman Empire, arguing that it was caused by a financial crisis brought on by excessive debt, wealth inequality, and the concentration of economic power. Hudson draws parallels to modern-day economies and highlights the dangers of financialization and wealth concentration.
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